How do we know when irrational exuberance has unduly escalated asset values?
ALAN GREENSPANAnd she always has so much fun doing it. We make a good team.
More Alan Greenspan Quotes
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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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History cannot be reduced to a set of statistics and probabilities.
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The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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Senator, if I seem clear to you, you must have misunderstood me’.
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I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
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No one has ever eliminated any of that stuff.
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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
ALAN GREENSPAN